Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Fethullah Gulen responds to videocassette allegations

March 28, 2013 A TV channel started a defamation of Fethullah Gulen in June 1999 in Turkey based on a montage videocassette. Below is an phone interview with Mr. Gulen by famous anchor Reha Muhtar of Show TV. Gulen in this interview answers all the accusations such as penetrating the state institutions, bringing Sharia to […]

Bridge-building in ‘enemy country’ – Story of a Turkish asylum seeker in Greece

Erdogan’s aggressive policies, which have driven many Turks into exile, seem to have had an unintentional side-effect. “A bridge is being built between Turks and Greeks,” the English teacher says. “We’re learning to overcome prejudices and historical misunderstandings.”

Cameroonian Governor Thanked Turkish Nation for the Turkish Schools

ENSAR TUNA ALATÜRK – BURSA Abakar Ahmat, the Governor of Ngaundere state, Republic of Cameroon, paid a visit to Sahabettin Harput, the Governor of Bursa, Turkey. Mr. Ahmat thanked Mr. Harput for the Turkish schools in Cameroon on behalf of the Turkish nation. Governor Ahmat was accompanied during the visit by the Mayor of Ngaundere Hamadou Dawa, […]

Fethullah Gülen calls on Muslims in the US to pray against Sandy

Turkish Islamic scholar Fethullah Gülen has expressed his deep sorrow over the devastating effects of Superstorm Sandy, called on Muslims in the US to pray and reportedly wrote a blessing and prayer against the storm before the US East Coast was hit by the monster storm, on Monday. Gülen lives in Pennsylvania, which was among the […]

Turkish “religious advisors” are keeping an eye on Erdogan opponents in Belgium

Turkey is pressuring “religious advisors” to keep an eye on President Recep Tayyip Erdogan’s opponents in 38 countries, including Belgium. In Belgium, how the religious councillor at the Turkish embassy behaved could be seen as interference.

Fethullah Gulen Condemns Brussels Terrorist Attacks

Fethullah Gulen: I strongly condemn the brutal terrorist attacks at the Brussels International Airport and Metro station on March 22 that resulted in the deaths of more than 30 people and the injuries of hundreds.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Der Spiegel: Turkish consulate officials involved in spying activities not only in Germany

The Istanbul Cultural Center hopes to build bridges though food

Serbia seeks agriculture investments from Turkey

Pak-Turk International celebrates 8th annual night gala

Latin American firms seek Turkey investments at TUSKON meet

Today’s Zaman journalist faces deportation [from Turkey] over critical tweets on government

Fethullah Gülen: Turkey coup may have been ‘staged’ by Erdoğan regime

Copyright 2026 Hizmet News